Retail

Rent the Runway enters $33 billion fashion resale market

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Jennifer Hyman, Rent the Runway 

Scott Mlyn | CNBC

Rent the Runway said Wednesday it is expanding into resale, a major evolution for the fashion rental platform.

Customers will soon be able to buy used designer clothes from the business in addition to renting them. No membership will be required, as Rent the Runway looks to broaden its reach and give shoppers more feasible entry points. Previously, only paying members were able to buy gently used Rebecca Minkoff dresses, Tory Burch tops and even Lululemon leggings from Rent the Runway, at a discount.

The launch comes as Rent the Runway is clawing its way back from the effects of the Covid pandemic. When Americans were forced to stay put at…



Source cnbc.com

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